The average U.S. gas price has fallen below $4 a gallon for the first time in months, according to AAA, offering relief after a prolonged period of elevated costs tied to the conflict with Iran. The national average now stands at $3.9990 per gallon, down from recent highs driven by wartime disruptions.
Iran's squeeze on oil traffic through the Strait of Hormuz had battered the global economy and sent pump prices soaring. But crude prices fell to their lowest levels in over three months following news of an extended ceasefire between the U.S. and Iran, designed to restore shipping through the strategic waterway.
A year ago, the national average was $3.1880 per gallon. Diesel prices remain above $5 per gallon, though they too have fallen from recent peaks. The ceasefire agreement is expected to continue easing supply constraints, though analysts caution that prices will likely stay above pre-war levels for some time.
Even with lower prices, political pressure on the Trump administration persists. Majorities of Americans in multiple polls blamed Trump for the earlier price surge, and affordability remains a top midterm issue. The White House has insisted the temporary pain was necessary to prevent a nuclear Iran.
The extended ceasefire does not guarantee domestic political relief. Trump's defiant rhetoric during the conflict gave Democrats a powerful line of attack, and some voters remain skeptical that prices will hold steady as the region stabilizes.